DOW - Resistance broken!

 

Dow

11,808.79

+267.01

+2.31%

By: JeeYeon Park


CNBC.com Writer

Stocks ended near session highs Friday following news that a group of euro zone finance ministers have approved the next round of aid for Greece and amid optimism over the euro zone ahead of the EU summit on Sunday.

The Dow Jones Industrial Average jumped 267.01 points, or 2.31 percent, to finish at 11,808.79, finishing firmly in positive territory for the year.


The S&P 500 rallied 22.86 points, or 1.88 percent, to end at 1,238.25. The Nasdaq gained 38.84 points, or 1.49 percent, to close at 2,637.46. The CBOE Volatility Index, widely considered the best gauge of fear in the market, finished below 32.

European shares closed higher amid optimism that policymakers would make progress on a solution to the euro zone debt crisis in the coming days.


France and Germany said in a joint statement that European leaders would discuss a global solution to the crisis on Sunday, but no decisions would be adopted before a second meeting by Wednesday at the latest.